Aristotle Capital Boston, LLC, an investment advisor, released its “Small/Mid Cap Equity Strategy” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The volatility that was seen in 2024 persisted into the fourth quarter. SMID caps reported modest gains in the fourth quarter, with the Russell 2500 index yielding a total return of 0.62% and a year-to-date total return of 11.99%. In the fourth quarter, the fund delivered a return of -0.45% net of fees (-0.37% gross of fees) underperforming the Russell 2500 Index’s 0.62% total return. Security selection drove the underperformance of the strategy in the quarter. For more information on the fund’s best picks in 2024, please check its top five holdings.
Aristotle SMID Cap Equity Strategy highlighted stocks like Columbus McKinnon Corporation (NASDAQ:CMCO) in the fourth quarter 2024 investor letter. Columbus McKinnon Corporation (NASDAQ:CMCO) designs, manufactures, and markets motion solutions that facilitate the movement, lifting, positioning, and securing of materials. One-month return of Columbus McKinnon Corporation (NASDAQ:CMCO) was 0.89%, and its shares gained 0.80% of their value over the last 52 weeks. On January 21, 2025, Columbus McKinnon Corporation (NASDAQ:CMCO) stock closed at $37.61 per share with a market capitalization of $1.08 billion.
Aristotle SMID Cap Equity Strategy stated the following regarding Columbus McKinnon Corporation (NASDAQ:CMCO) in its Q4 2024 investor letter:
“Columbus McKinnon Corporation (NASDAQ:CMCO), is a designer and manufacturer of a variety of material handling products and industrial lifts. The company is expected to benefit from a cyclical rebound in demand following a period of subdued performance as well as the harvesting of investments they’ve made over the past several years in faster growing, higher margin intelligent motion solutions (conveyance and automation).”
A large construction site with a modern industrial hoist in focus.
Columbus McKinnon Corporation (NASDAQ:CMCO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held Columbus McKinnon Corporation (NASDAQ:CMCO) at the end of the third quarter which was 18 in the previous quarter. In the third quarter, Columbus McKinnon Corporation (NASDAQ:CMCO) reported net sales of $242.3 million down 6% year-over-year. While we acknowledge the potential of Columbus McKinnon Corporation (NASDAQ:CMCO) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
We previously discussed Columbus McKinnon Corporation (NASDAQ:CMCO) in another article, where we shared Carillon Chartwell Small Cap Value Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.